The Friends of Loreto College Coleraine
Annual Report and Unaudited Financial Statements
for the financial year ended 31 March 2023
Quarter Chartered Accountants
St Anne's House
15 ChurGh Street
Cathedral Quarter
Belfast
BT1 1PG
Charity Number.. 103054

The Friends of Loreto College Coleraine
CONTENTS
Page
Reference and Administrative Information
Trustees, Report
Independent Examiner's Report
Financial Statements
Notes to the Financial Statements
Supplementary Information relating to the Financial Statements
10-12

The Friends of Loreto College Coleraine
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Daniel Henry
Paul Mullan
Sarah Egan
Michael James
Susan Kelly
Belinda Toner
Charity Number In Northern Ireland
103054
Independent Examiner
Quarter Chartered Accountants
Sl Anne's House
15 Church Street
Cathedral Quarter
Beifasl
BT1 1PG
Bank8rs
Ulster Bank
11-16 Donegal Square egst
Bella>t
BT1 SUB

The Friends of Loreto College Coleraine
TRUSTEES, REPORT
for the financial year ended 31 March 2023
The tr￿$t=_$ present their Trustees, Report and the unaudited financial slalemenls for the financial year ended 31
Marih 2023.
The financial slalenients are prepared in akncordancé wlh the Charities Act (Northem Ireland) 2008, FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland and Accounting and Rtporting by Charilies..
Slalemenl of R-commendeo Pra¢lic& applicable lo charities preparing their financial slalèmenls in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
The Trustees, Report contains the information required lo be provided in the Trustees, Annual Report under the
Slalemenl of Rtriominendfrd Practice ISORPI guidelines. The Iruslees of the company are also diarily trustees for the
purpos• of charity law and under the company's c.onslilulion are known as members of the board of Irusle#s.
In this report thè trustees of The Friends of Lorelo College CDleraine present a summary of its purpose. governanee,
aclivilie>, achiev¥menls and finances for the financial year 31 March 2023
The Iruslves who servéd during the period are as follows..
Trustees
Michael James
Susan Kelly
Belinda Toner
Daniel Henry
Paul ML,Ilan
Sarah Egan
Objectives and Activitles
Friends of Lorelo is a committee of like-minded pa81 pupils, parents and teachers who want lo maintain and promote
the Lorelo ethos and academic exrellence for present pupils and those to come. 11 was formed in June 2014 and
propedy consliliil4d as a Gharity in February 2015. It has now officielly gained HMRC charitable status 8nd can Claim
Gift Aid on donations.
The primary aim of the charity was to gel in touch with past pupils and parents of current pupils and then lo engage
with the loral community and busine95es lo highlight the great a¢hievemer)Is of the school and lo raise awareness of
Its Dngoing projects
Friends ol Lortrlo have pro-actively used social media lo reach out a¢roEs the world and connect with friends far and
wide. The Facebook page has proved a very popular medium and currently h8s 3,600 people following it. The charity
also has Linked-in and Twiller accounts All thes# along with a database of email contacts allow us lo raise the positive
profile of the school and k.eep people informed about what is happening lo pupi15 past and present. There are updalr5
on events pl8nD.ed, SLICi¥5sful sporting achievements, musical SLiccesses, and career information. Alumni can use il
lo connect with old friends and to k.eep abreast of current school news.
The secgnd3ry aim of the charity was to raise funds lo support the school in ils conlinLIOLlS commitment lo learning and
lo en.sure that every Lorelo sludenl is encouraged lo develop their individual talents. The board dec".,"ded to raiRe funds
through organising aclivilies, events. community projects and sponsorships.
The initial focus was to try to raise enough funds lo maintain the Convent which had been recently vacated by the
Lorelo Nuns and which they were in the process of transferring to the school. The Eoucalion Authority did not want lo
lake owner>hip of the building bLiI the historic and emotional lies to the beautiful, listed building meant that the Board
ne¥dAd to laK"e a¢lion aiid lo try and save it.
This project remains a cenlial fO￿S for the charily with plans lo enhan￿ Ilie healing system. roof. and windows as
well as a commitment lo raise funds lo support olher school projects
Reserves Policy
Reserves are held for the benefit of Lorelo College Coler8ine. Thé re<•rves are being set aside for the funding 3nd
renovalion eh'pendilure, together with school activit￿es. The policy is oviewed on an annual baois by the Trustees.

The Friends of Loreto College Coleraine
TRUSTEES, REPORT
for the financial y¥ar elidéd 31 March 2023
Achievèments and Performan¢e
No organised events were organised during the year...
Thank-you
The trustees are very grateful for all the support given lo them over this finan¢ial year and look forward to resvming
eweiils in the year lo come.
Results and Dividends
Al Ilie end of the financial year the company has asoels of £4,3e9 (2022- £9,314) and liabilities of £O.0012022- £0.00).
The net assyls ol the company have de¢rea5ed by £4,925.
In 3ccordance with the Articles of Associab"on, the directors retire by rotation and, being eligible, offer themselves for
re-eieclion.
Compliance with Seetor-wide Leglslatlon and Standards
The Gonipany engages pro-8clively with legislation, standards and codes which are developed for the $ecl¢r. The
Friends of Lorelo College Coleraine subscribes lo and is compliant with the following..
The Charities SORP IFRS 1021
Approved by the Board of Trustees on 26 January 2024 and signed on its behalf by:
Michael James
Trusjee
Paul Mulla
Trustee

The Friends of Loreto College Coleraine
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF THE FRIENDS OF LORETO COLLEGE COLERAINE
We have e.'iamiDed the financial slalemenls of the company for the financial year ended 31 March 2023, which
coiiiprise the Financial Slaletnenls and the related notes.
This report is made solely to the o)mpany's mémbers, as a body, in acccirdance with the charities Act (Northem Ireland)
2008. Our work has been undértaken so Ihal wè might compile the financial slalemenls that we have been engaged to
compile, report lo the Board of Trustees that we have done so, and slate those mallers Iliat we have agreed lo slate
lo them in this report and for no other purpose. To the fullest extent peimilled by law, we do not accept or assume
responsibility lo anyone oll)er than the conipany and the company's menibers, as a body, for our work, tsr forthis report.
Respective responsibilities of trustees 3nd examiner
Thè company's Iruslers are r¥sponsible lor the preparation of the financial statements in accordance wilh the
reouifvmenls of the Ch8ri1ies A¢.1 (Northern Ireland) 2008. The company's Iruslers consider that an aLidil 15 not requirvd
for this financial year under the Charities Act (Northem Ireland) 2008 and that 8n independent examination is required.
11 is our responsibility lo..
arriine the financial sl4l¥menls under <rC.Iion 65 of the Charities Act.,
follow the protsdur¥S laid down by Ilie general Direclions given by the Charity Commission for Northem Ireland
under s=clion 64I9jjbl of the Charities Act, and
slate whether particular m8llers have come lo our attention.
Basis of independent examiner's report
We have r xamined your cornpany financial slalemenls as required under section 65 of the Charities Act and our
xaminalion was carried out in accordance with the genèral Directions given by the Charity Commission for Norlhern
Ireland under section 6519llbl of the Charities Act. An èyamination includes a review of the accounting records Kept by
the company and a comparison of the financial statements preoented with those records. 11 also includes consideration
of any unusual items or disclosures in the financial statements and s•eAing explanalions from the Iruslees concorning
any siich mallers. The procedures undertaken do not provide all the evidence that would be required in an audit and
¢onsèquenily no opinion is given as to whether the accounts present a 'lrue and fairf view and the report is limited lo
tho<e matters set out in the statement below.
In cDnDeclion with our e¥aminaliori, no maller has come to our attention which giv&s us cause to believe that in, any
material rfrspect..
accounting records were not k.epl in accordan￿ with section 63 of the Charities Act
the financ.ial slalemenls do not accord with those accounting records
the financial slalemenls have not been prepared in accordan￿ with the Slalemenl of Recommended Practice
applicable lo charities preparing their accoui)Is in arcordance with tlie Financial Reporting Standard applicable in
the UK and Rppublic of Ireland IFRS1021
there is further inforinalion ne¥dèd for a proper understanding of the accounts lo be reached.
Indepeiident examIne￿S statement
We have no concerns and have come across no other mallers in connection with the examination to which attention
should bè drawn in this report in order lo enable a proper understanding of the financial statements lo be reached.
QUARTER CHARTERED ACCOUNTANTS
Sl Anne's HoLise
15 Church Street
Cathedral Quarter
Belfest
8T1 1PG
Date.. 26 Janiiary 2024

The Friends of Lorelo College Coleraine
FINANCIAL STATEMENTS
for thè finanoal yèar endrd 31 March 2023
Unrestricted Restrlcted
Funds
Funds
2023
2023
Total
Total
2023
2022
Notes
Receipts and Payments Account
Receipts
Activities for generating funds
Income Ironi Olh¥r Events
Other receipts:
Other income
120
120
40
Total receipts
120
120
40
Payments
Cost of generatin9 funds:
Co<ls of Other Events
128
128
123
Charitable Activities..
Replacement Curtains
4.917
4,917
Totsl payments
5.045
5,045
123
Net recelplsllpaymentsl for the financial year
Balgn¢es brought forward at 1 April 2022
14,9251
7,314
(4.9251
9,314
1831
9.397
2,000
Balances carried forward at 31 March 2023
2,389
2,000
4,389
9.314
Statement of Assets and Liabilities
Cash funds
Bank and ca51)
2,389
2.000
4,389
9,314
Current Ilabilitles
Approved by the Board of Trustees and authorlsed for Issue on 26 January 2024 and slgned on its behalf by
Michael James
stee
Paul Mullan
Trustee
The noltrs on Pai3èS 8 to 9 loim part of the finan￿5￿1 Sialeii)¥iils

The Friends of Loreto College Coleraine
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2023
GENERAL INFORMATION
The Friends of Loreto Collège Coleraine is 8 ¢harily incorporated in Nortl)ern Ireland. The registered office of
the company is Lorèto Toner, caslleroc.rf Road, Coleraine, BT51 3JZ which is also the principal plaRe of
bLisiness of the company The financial slalements have been prvsknled in Pound Sterling 1£) which is also the
fvnclional CLirrency of the company.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following acrounling policies have byen applied consislenlly in dealing with items which are considered
material in relation lo the charity's financial slatemeDIs.
Basis of preparatlon
The financial stalÈmenls have been prepared on the going concern ba<is under the historical cost conv&ntion,
modified to include certain il¥ms at fair value. The financial statements have been prepareci in ac.Gordanrp with
the Statement of Recommended Practice ISORPI Arc.ounling and Reporting by Charitiès preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Iieland
FRS 102"
As pemilt*d by thè Companies A¢1 2006, the conipany ha5 varied the sldndard fomals in that act for the
Sialeni¥nl of Financial Actlvilitrs and the Balancv Sheet. Departurrs from the standard forn)ats are lo comply
with the requirerriènts of the CharilirS SORP and are in conipliance with section 4.7. 10.6 and 15.2 of that
SORP.
Statement of compliance
The financial slalemenls of the company for the financial year ended 31 March 2023 have been prepared on
the going concorn b85is and in accordanc£ with the St91emenl of Recommended Practice ISORP}"Accounling
and Reporting by Charities preparing their accounls in accordance with tl)e Financial Reporting Standard
applicable in the UK and Republic of Ireland FRS 102
Incoming Resources
Voluntary income or Capital is included in the Slalement of Financ.ial Aclivilies when the company is legally
enlillyd lo it, ils financial valiie can be quanlilied with reasonable certainty and there is reasonable Cvrtainly of
ils ultimate reckipl. Enlillement lo |*garies is considvred established when the conipany h85 been nolili*d ol a
dislribLilion lo be made by the r>.'rrulors, Income retteived in advance of due performance under a coi)Ir3cl is
aciounled lor as defvrred inconie until earned. Grants for activities are rerognised a5 income when the rela1￿d
conditions for legal enlillement h£ve been mel. All other incorne is accounted for on an accruals basis.
Resources Expended
All rÉooLirces rxpendéd are accounted for on an accrlials basis. Charitable activities include costs of services
and grants. SLlPPOrt cos15 and depreciation on related assets. Costs of generating funds similarly inclLide
fundraising aclivilies. Non-slaff cosls not allributed lo one category of activity are allocated or apportioned pro-
rata lo the staffing of the relevant sarvice. Finan￿. HR, IT and adminislralive staff costs are directly 8llributable
to individual activities by objeclive. Governance costs are those as<nrialed with conslilulional and slalulory
requirements
Cash at bank and In hand
Cas11 8t bank and in hand compris4BS cash on deposit at banks réquiring less than tliree monlhs, notice of
will)drawal.
Taxation and deferred taxatlon
No current or dclerred laxalion arises as the company has been granted charitable exemption. Irrecoverable
valued added 18X IS fApen5ed as incurred.
Deferred lax is recognised in respect of all liming difference5 th8t have originated but not reversed al the
balance shoel dale where transactions or events have occurred at that dale that will result in an obligation 10
Pay more tax in the future, or a right lo pay less lax in the future. Timing differences are lempofftry dillerences
betwèen thè company's laAable profits and ils re5111ls gs slated in the financial slal¥menls
Deferred la¥ is measLired on an undiorounlod b¢51S al the t?..￿ rates that are anticipated lo apply in the periods
in which the liining diffei"eprr> are eh'p•rlYd lo revers
ba>-d on laK rat￿$ and 18ws that have been enacted
or siibslanlively enacted by the balants shèet dale.

The Friends of Loreto College Coleraine
NOTES TO THE FINANCIAL STATEMENTS
continued
for th¥ financial ￿ear end¥d 31 Mai'ch 2023
ANALYSIS OF PAYMENTS AND RELATED INCOME FOR CHARITABLE ACTIVITIES
2023
2022
Rep1a￿mernt of s¢hool curtains
4,917
SUPPORT PAYMENTS
RESERVES
2023
2022
Al 1 April 2022
(Deficilllsurplus for the financial year
9,314
14,9251
9,397
1831
At 31 March 2023
4,389
9,314
FUNDS
ANALYSIS OF NET ASSETS BY FUND
Current
assets
Totsl
Reslricled trust funds
2,000
2,000
Unreslricted general funds
2,389
4,389
4,389
POST-BALANCE SHEET EVENTS
There have been no significant events affecling the Charity since the financial year-end.

THE FRIENDS OF LORETO COLLEGE COLERAINE
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
10

The Friends of Loreto College Coleraine
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
OPERATING STATEMENT
for Ikie fin8noal ye3r ended 31 March 2023
2023
Schedule
Income
120
40
Charitable activities and other expenses
15,045)
11231
Net Ideficitllsurplus
14,925}
1831
The supplémentary inlomialion does not form pert of the financial slalemenls
11

The Friends of Loreto College Coleraine
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
SCHEDULE 1 CHARITABLE ACTIVITIES AND OTHER EXPENSES
for tlie financial yrar ended 31 March 2023
2023
2022
Expenses
Insuranre
Replai cment Curtains
128
4,917
122
5,045
122
The siippleiiienlary infoi'inalion does not form part of the financial slalemrnls
12